The repurchase of credit with mortgage guarantee also called mortgage repurchase is a grouping of credit of amount often important. The bank will require a mortgage guarantee, as for a home loan.Do not wait, a credit redemption or credit consolidation can allow you to balance your budget again
Why apply for a mortgage repurchase credit?
There are three situations in which the repurchase of credit will be a mortgage loan.
When redeeming real estate loans
Indeed, if we must resume the mortgage along with other consumer loans, we will determine the share of mortgage in the purchase of total loan. If this share is greater than 60% of the total amount of the repurchase, it will be called repurchase of mortgage and will necessarily be a mortgage. On the other hand, if this part of mortgage is less than 60%, it is a repurchase of consumer credit. The mortgage will be requested according to the total amount.
When a large credit surrender amount
If the total amount of your loans to take back exceeds 200 000 USD, a mortgage on your house will be required. It is often advantageous to choose a repurchase of credit with mortgage guarantee for the amounts higher than 80 000 USD because the fixed rates are much lower. Notary fees are included in the amount of the mortgage loan as the bank’s handling fees and the intermediary’s mandate.
When a long credit surrender period is imperative
Sometimes the rest to live or the debt ratio are not respected for less than 15 years. This is why a longer loan period, up to 35 years maximum, is studied. The monthly payment is very small and allows you to get an agreement to consolidate all your loans.
For a Mortgage Loan Redemption, Use a Credit Buyback Broker
We have specialized in the sector for many years. We are well acquainted with the various arrangements for repurchasing real estate loans and consumption. We study your file in detail and make all possible credit simulations. Sometimes a buy-back is enough and then you have to renegotiate the home loan to avoid paying the prepayment fee.
For all your requests for repurchase of credit immo and conso, we are at your disposal, ask us your questions.